MAKING your own claim for PPI avoids a sizeable cut of any payout going to a claims company.
Which? says policies may have been mis-sold if people were NOT told:
• PPI was optional.
• There were any significant policy exclusions, such as pre-existing medical conditions.
• Any single payment for PPI would be added to the loan, and incur interest.
• PPI would run out before the loan was repaid if this was over a longer period than the usual PPI cover of five years.
• For PPI bought after 14 January 2005, a “demands and needs statement” should have been issued to show why a policy had been recommended if the seller had strongly advised PPI.
Policyholders should write direct to... read more